Many people are concerned about the value of the dollar. Massive government debt threatens their live savings. As a hedge against inflation, they are buying gold. (Do I sound like Goldline commercial?)
But is your gold safe with a progressive in the White House. It wasn’t during the Great Depression. Citizens who tried to shelter their savings with gold soon found they were threatened by the federal government. They were forced to turn over their gold for “gold certificates”. Those who did not comply were sent to jail and fined.
You can leave a response, or trackback from your own site.On April 5 President Roosevelt issued an executive order requiring holders of gold to turn it into the Treasury in exchange for paper currency under penalty of ten years imprisonment and $10,000 fine. Department of Justice agents began visiting known hoarders who, to date, have surrendered $38,901,009 in gold. During the same period unknown hoarders have given up more than $300,000,000. Attorney General Cummings issued threat of prosecution against recalcitrants who still held $560,201,000.
On Aug. 28 President Roosevelt issued another order requiring every possessor of gold to register his holdings with the Treasury before Sept. 18. Those who failed to do so were also to be punished by ten years imprisonment, $10,000 fine.
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